NMCC asked to examine impact of steel imports from China
Agencies: New Delhi , Nov 11 2012, 14:44 IST
disruption to domestic producers.
"... and as such it has been decided to initiate an investigation...," DGS said in a notice.
Imports from China have increased phenomenally from 5,364 MT in 2009-10 to 36,183 MT in 2011-12.
Jindal Stainless' complaint said while domestic production increased due to setting up of a new unit in Odisha (which started functioning from July, 2011), the surge in imports was greater than the increase in production in 2011-12 over 2009-10.
Capacity utilisation of the local industry also declined significantly from 91 per cent in 2009-10 to 58 per cent in 2011-12.
However, inventories witnessed a massive surge from 4,257 MT in 2009-10 to 15,498 MT in 2011-12, "reflecting the plight of the domestic industry," it had said.
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